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Tom Coughlin discusses the greater hard disk drive industry as companies like Micron (MU), Western Digital (WDC), SanDisk (SNDK) and other AI memory chips command price action. He predicts 80% of data center information will be stored via HDD, opening the door for these companies to command the space even more.
Despite the brutal pullbacks in AI-related stocks, debt fears are far overblown and the bullish fundamental case remains rock-solid for the foreseeable future.
Micron, SK Hynix and SanDisk shares traded higher on Friday as a rebound in the broader semiconductor sector lifted investor sentiment following a technology-led selloff in the previous session. Micron MU gained more than 3%, while SK Hynix rose over 4% and SanDisk advanced 1.4%.
SanDisk has shed a third of its value in a month even as its business posts record numbers and locks in nearly $94 billion in signed customer contracts.
SK Hynix (NASDAQ:SKHY) shares climbed about 4% to $136.58 in morning trading, outpacing gains in other memory names after the company halted plans for a U.S. IPO of its Solidigm flash-memory unit.
Stock futures are pointing lower after yesterday's tech sell-off; cell tower stocks are surging after a report that SpaceX aims to secure thousands of cell sites; American Express raised its profit forecast; Western Digital's earnings are failing to lift the stock; and Deckers Outdoor shares are falling after an earnings miss. Here's what you need to know today.
Sandisk is a Buy with a 12-month price target of $1,830, reflecting 32% upside and minimal direct DRAM exposure. The recent CXMT DRAM news triggered an 18% drop, but SNDK's contracted flash business and Japanese supply chain insulate it from DRAM-specific risks. NBM agreements cover $59.8B in future revenue, with price floors and ceilings, supporting earnings even if flash prices decline sharply.
Stock futures pointed lower as oil prices climbed above $114 a barrel, but some of the hard-hit tech names were enjoying a modest rebound.